50 Pfennigs E. Bornemann

Bad Rehburg was a small spa town in Lower Saxony whose local businesses issued Notgeld during the early Weimar inflation years largely because the Reichsbank simply could not keep small-denomination coinage in circulation — metal was being hoarded or melted down faster than it could be minted. E. Bornemann & Co., a local commercial firm rather than a financial institution, took the practical step of issuing their own 50 Pfennig notes redeemable against their own credit.

The printer, EMTW Meinberg at the Ilsede ironworks complex, was an industrial operation that took on Notgeld contracts across the Hanover region during this period — an unusual arrangement that placed currency printing alongside heavy metallurgy.